Domestic Borrowing is done through the issuance of government securities like treasury bills which are short term debt instruments with tenures ranging from 91, 182 and 364 days and treasury bonds with a maturity period of more than a year.
A syndicated loan or a syndicated bank facility is financing offered by a group of lenders, who are then referred to as a syndicate, who work together to provide funds for a single borrower, according to US Based website, Investopedia.
The borrower can be a corporation, a large project, or a sovereign government. The loan can involve a fixed amount of funds, a credit line, or a combination of the two.
In a statement, UBA is now rallying all government business facilitation agencies like Uganda Revenue Authority, Uganda Investment Authority, the Ministry of Finance and the Judiciary, as well as private-sector agencies to join "join us in addressing the implications of the judgement and assist in avoiding the adverse effects" of the judgement on the economy and the country.
Points of Sale and merchants, mainly supermarkets, are the main culprits in imposing the surcharge, which the card operators and vendors say is not necessary, but only adds to the cost of using the cards.
An assessment presented by UDB Executive Director, Patricia Ojangole shows that on average, 80 per cent of private sector businesses need financial help like physical cash, debt rescheduling or direct loans to be able to overcome the effects of the pandemic.
Speaking at the inauguration of the 4th Board of the Uganda Tourism Board, the Chairman Daudi Migereko accused the management of UTB of being 'too slow' at implementing some projects. He said, Uganda had lost a lot during the COVID-19 pandemics and that it would be difficult to catch up with global trends unless they changed the way they do work.
Mobile money transactions grew by 19.3 per cent to almost 80 trillion Shillings, and of this, 41 trillion was recorded between January and June, half of the year during which the country went into a lockdown. The Escrow account balances, or money belonging to mobile money customers, whether saved or not yet withdrawn, grew by 51 per cent, while the value of debit and credit card transactions also rose 20 per cent.
According to the Association’s Executive Director Wilbrod Owor, in the first month of restructuring, commercial banks received more than 750,000 restructuring applications. Of these, 755,000 requests worth 2.028 trillion Shillings were approved.
Ledger fees, ATM fees, withdrawal fees and periodic charges are some of the transactions on which the service fee is now levied under the Excise Tariff (Amendment) Bill. Also to be taxed are transactional/non-transactional charges excluding loan related charges periodically charged by Financial Institutions.